Take a look at J Scott's book, or even the Book on Rental Properties has a quick chart (I'm sure there are free resources and posts on here too).

As you have properties meet your criteria, you can start making offers and if any are accepted, use your option period to perform inspections and get a more precise bid. 

If you are looking at the cash flow, you might find it helpful.The first chart is data for Dallas, TX collected 7/25/2022.

I saw this map online from Trepp, which shows the percentage of multifamily loans with potential issues by region. Not surprising with the areas projected to have the highest challenges. This just means there is going...

Chart everything.

However, if you are serious about running a real business I would urge you to start off right by getting at least a basic accounting system with a chart of accounts tuned to your specific business needs.

Raleigh right now on acreage that fits this bill precisely. 

This chart is very helpful too: https://www.boe.ca.gov/prop19/...Good luck!

I'm an investor looking to buy and hold and possibly make my first investment in this market.It looks like fourplexes currently on the market in NW Killeen (76549 zip code) right now are asking a avg/median price of $225,000 with an estimated monthly rental income of $2,300 (assuming two units are 3/2 and two are 2/1.5, with estimated rents of $600 and $500 respectively) -- i.e. they precisely meet the 1% rule.Also based on my estimates, it looks like the cap rates for these fourplexes is generally around 7%.Assuming a 90% vacancy rate, 10% for property management and 1.5% of PP per year for repairs/capex (~$3,200), I'm projecting an 11-17% IRR on a 25% down conventional financing at these asking prices, which is attractive for me.Can anyone give me some feedback on my assumptions (e.g. projected rents, vacancy rates, repairs/capex budget) and pour cold water on my projections?

That is the precise play.A few other people mentioned they keep enough around for any hit and I agree with that too.I think the reserve study is a better option when considering a purchase (or marketing a sale).